April 15, 2026
In
Strategy
From Retailer to Media Platform: How Walmart Connect Is Redefining the Economics of Commerce
Walmart has been rewriting the economics of its business. In Q4 FY2026, Walmart disclosed that advertising and membership income together accounted for roughly one‑third of operating profit, a striking figure for a company historically defined by low‑margin retail. Walmart’s global advertising business generated nearly $6.4…